FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden hours per response... 0.5

(Print or Type Responses)
1. Name and Address of Reporting Person *
TAYLOR STUART A II
   2. Issuer Name and Ticker or Trading Symbol
Hillenbrand, Inc. [HI] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
TAYLOR GROUP LLC, 155 NORTH WACKER DRIVE, 42ND FLOOR		 3. Date of Earliest Transaction (Month/Day/Year)
03/30/2012
(Street)

CHICAGO, IL 60606		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. SEC 1474 (9-02)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Restricted Stock Units (Deferred Stock Award) 2/11/09 (1) 03/30/2012   A(4)   45     (5)   (5) Common Stock 45 $ 22.95 5,408 D  
Restricted Stock Units (Deferred Stock Award) 2/24/10 (1) 03/30/2012   A(4)   41     (5)   (5) Common Stock 41 $ 22.95 4,846 D  
Restricted Stock Units (Deferred Stock Award) 2/23/11 (1) 03/30/2012   A(4)   36     (5)   (5) Common Stock 36 $ 22.95 4,355 D  
Restricted Stock Units (Deferred Stock Award) 2/22/12 (1) 03/30/2012   A(4)   34     (5)   (5) Common Stock 34 $ 22.95 4,143 D  
RESTRICTED STOCK UNITS CUMULATIVE TOTAL (1)               (5)   (5) Common Stock 18,752 (6)   18,752 (6) D  
Deferred Director Fees (1) 03/30/2012   A(2)   79     (3)   (3) Common Stock 79 $ 22.95 9,562 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
TAYLOR STUART A II
TAYLOR GROUP LLC
155 NORTH WACKER DRIVE, 42ND FLOOR
CHICAGO, IL 60606		   X      

Signatures

 Carol A. Roell As Attorney-In-Fact for Stuart A. Taylor, II   04/03/2012
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Conversion or Exercise Price of Derivative Securities is 1-for-1.
(2) Phantom stock units are entitled to dividend equivalents rights, which accrue on dividend record dates.
(3) These stock units will automatically be convered into shares of common stock in two annual installments. The first installment will be made on the date the Director ceases to be a Member of the Board of Directors of the Company. The second installment will be made on the one year anniversary of the date the director ceases to be a Member of the Board of Directors of the Company.
(4) Restricted stock units are entitled to dividend equivalent rights, which accrue on dividend record dates.
(5) These stock units vest on the date of grant, but delivery of the underlying shares of common stock will occur on the six month anniversary of the date that the applicable director ceases to be a member of the Board of Directors. Stock units are entitled to dividend equivalent rights, which accure on dividend record dates.
(6) This amount represents the cumulative total of all Restricted Stock Units (deferrred stock awards) granted to reporting person. This cumulative total does not represent additional Restricted Stock Units granted to the reporting person, but is merely a total of all awards reported separately on this SEC Form 4.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.